The blue-blooded banking house has reported third-quarter results as US banks begin to issue results for the quarter.

US-listed JP Morgan today said it logged net income of $6.8 billion in the three months to end-September, a 22 per cent year-on-year increase, while net revenue fell 6 per cent to $23.5 billion.

Within its asset management arm, JP Morgan said net income fell 19 per cent year-on-year at $475 million, while net revenue fell 5 per cent to $2.9 billion. Net interest income was $633 million, up by 1 per cent as loan balances increased. Non-interest revenue was $2.3 billion, down by 7 per cent, affected by the sale of the bank's retirement planning services business in 2014, lower transactional revenue and lower valuations of seed capital investments, JP Morgan said in a statement.

Assets under management stood at $1.7 trillion, unchanged on a year ago, because lower market levels offset the effect of net inflows to long-term and liquidity products.

“We had decent results this quarter. We saw the impact of a challenging global environment and continued low rates reflected in the wholesale businesses’ results, while the consumer businesses benefited from favorable trends and credit quality,” Jamie Dimon, chief executive, said.

The bank had a Basel III common equity tier one capital ratio of 11.4 per cent.